IGM Financial Inc. (TSE:IGM) Receives C$45.00 Average PT from Brokerages

Shares of IGM Financial Inc. (TSE:IGM - Get Free Report) have been assigned an average rating of "Moderate Buy" from the six research firms that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is C$45.00.

A number of analysts have commented on the stock. BMO Capital Markets cut their price objective on shares of IGM Financial from C$40.00 to C$39.00 in a report on Friday, August 9th. Jefferies Financial Group lifted their price objective on IGM Financial from C$39.00 to C$45.00 and gave the stock a "hold" rating in a research report on Friday. Scotiabank upped their target price on IGM Financial from C$45.00 to C$46.00 in a report on Wednesday, July 24th. National Bankshares lifted their price target on IGM Financial from C$47.00 to C$50.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada raised their price objective on shares of IGM Financial from C$46.00 to C$47.00 in a research report on Thursday, August 8th.

IGM Financial Price Performance

Shares of TSE:IGM traded up C$0.08 during trading on Monday, reaching C$42.33. The stock had a trading volume of 185,569 shares, compared to its average volume of 241,278. The business has a fifty day moving average price of C$40.48 and a 200-day moving average price of C$38.30. IGM Financial has a 1-year low of C$31.92 and a 1-year high of C$43.07. The company has a debt-to-equity ratio of 35.99, a quick ratio of 0.31 and a current ratio of 2.12. The stock has a market cap of C$10.02 billion, a PE ratio of 11.91, a PEG ratio of 4.09 and a beta of 1.53.

IGM Financial (TSE:IGM - Get Free Report) last issued its earnings results on Wednesday, August 7th. The financial services provider reported C$0.93 EPS for the quarter, missing analysts' consensus estimates of C$0.95 by C($0.02). The business had revenue of C$816.31 million during the quarter, compared to analyst estimates of C$826.00 million. IGM Financial had a net margin of 29.47% and a return on equity of 12.80%. On average, equities analysts forecast that IGM Financial will post 4.006816 earnings per share for the current fiscal year.

IGM Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 31st were paid a $0.563 dividend. This represents a $2.25 dividend on an annualized basis and a dividend yield of 5.32%. The ex-dividend date was Friday, September 27th. IGM Financial's dividend payout ratio (DPR) is 63.38%.

About IGM Financial

IGM Financial Inc operates as a wealth and asset management company in Canada. It operates through Wealth Management and Asset Management segments. The Wealth Management segment offers investments that are focused on providing financial planning and related services; and provides mutual fund management and discretionary portfolio management services.